Fiduciary Group LLC Reduces Position in Micron Technology, Inc. (NASDAQ:MU)

Fiduciary Group LLC cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 20.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,583 shares of the semiconductor manufacturer’s stock after selling 945 shares during the quarter. Fiduciary Group LLC’s holdings in Micron Technology were worth $302,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after buying an additional 1,434,568 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Micron Technology by 0.6% during the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after buying an additional 206,499 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after buying an additional 892,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Micron Technology by 21.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after buying an additional 2,022,180 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Micron Technology by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,956,311 shares of the semiconductor manufacturer’s stock valued at $837,923,000 after purchasing an additional 144,897 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MU shares. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Robert W. Baird lowered their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Morgan Stanley lowered their price target on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $134.16.

Micron Technology Stock Up 0.9 %

MU opened at $103.00 on Friday. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average price of $96.92 and a 200 day moving average price of $98.22. The company has a market cap of $114.76 billion, a PE ratio of 29.68 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.